General Electric Proposal December 2015

GENERAL ELECTRICBOSTON, MASSACHUSETTS...an ecosystem thats forward-looking

December 1, 2015

general electric | introductiongeneral electric | introduction

The Commonwealth of Massachusetts and the City of Boston strongly believe that Boston, Massachusetts offers the thriving, healthy, and innovative ecosystem that General Electric is seeking in order to grow and succeed.

Building on its rich history of first discoveries, Bostons community of government, academia, and the private sector create new ideas each and every day. Bostons cultural charm is equally matched by a vibrant economy, outpacing the nations annual job growth between 2010 and 2014. The city is also home to a highly educated and diverse workforce, offering General Electric a talented pipeline from over 55 colleges and universities within the Greater Boston region and creativity from the 20 to 34 year

boston, massachusetts highlightsThe cost of living and doing business in Boston compares well to other cities:

The Tax Foundations 2016 State Business Tax Climate estimate ranks Massachusetts as 25th across all states. This measure takes corporate, individual, sales, and unemployment insurance taxes into consideration.

According to KPMGs Total Tax Index Boston ranks in the top-fifth of 107 international cities with the lowest relative tax burdens.*

According to PWCs Cost of Living Index, the Boston Metro Area has a lower cost of living than 16 other US metro areas.

2015 lease rates for Bostons Class A Office space range from $52 to $68 per square foot.

Commercial industrial property tax is $29.52 per thousand dollars of value, and residential rates are $12.11 per thousand dollars.

The state personal income tax is 5.15%, and sales tax is 6.25%.

old demographic, representing a third of the citys population.

General Electric would join Bostons vibrant business community, a strong workforce, and state and local government in developing new ideas to meet the demands of the future. Boston is a welcoming city for business growth and development, an ideal place for General Electric employees to work and for General Electrics employees and families to live, learn, and enjoy.

Upon choosing Boston, General Electric would become a part of a dynamic network of business leaders, entrepreneurs, start-ups, academics, researchers, and thought leaders actively contributing to Boston as a world-class innovation hub.

Charlie Baker GovernorCommonwealth of Massachusetts

Martin J. WalshMayorCity of Boston

*To KMPGs Competitive Alternatives Special Report Focus on Tax, 2014

a talented cityBoston is a world-renowned center for education and has one of the most highly-educated populations in the country.

a youthful city 1 in 3 Boston residents are young adults

between the ages of 20 and 34.

Boston prides itself on attracting and retaining students and young adults, and leads the nation in the percentage of its population that is between the ages of 20 and 34.

The City established the Mayors ONEin3 Council to give residents ages 20-34 a greater voice in shaping the present and future of the city.

a growing economyBostons economy grew by 3.7% between 2012 to 2013, surpassing that U.S. GDP growth of 2.2%. During the same time period, Boston added over 12,000 new jobs.

WORK, LIVE, PLAY, & INNOVATE

The City of Boston and Commonwealth of Massachusetts are excellent places to work, live, learn, play, and innovate.

general electric | introduction

work

Record job levels, national and interna-tional leadership in high growth sectors, a culture of innovation and entrepreneur-ship, strong anchor industries, a highly functioning ecosystem, and ample con-nections to the world.

live

Vibrant neighborhoods in Boston and surrounding communities, #1 in K-12 public education, top private high schools and universities, world class health care, and great culture.

play

Plentiful museums, theatres, history, sports, concerts, beaches, shopping, restaurants, hiking trails, festivals, and more.

innovate

World class talent with the highest concentration of higher education institutions, hospitals, medical research centers, and technology enhance a culture of innovation and entrepreneurship:

Half of all Nobel Prize winners in the United States were educated in Massachusetts.

#1 in bachelors degrees, at 38.2%. #1 state in advanced degrees, at 16.8%

of the over 25 population; 19% of metro-Boston.

#1 state in 4th grade math and reading, and #2 in 4th grade writing scores.

#1 state in 8th grade math, #1 in 8th grade reading, and #3 in 8th grade writing scores.

#1 state in K-12 achievement by Education Week.

#2 in the world in science achievement among 8th graders.

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6 Tide Street (BMIP)

Former BPS HQ(26 Court Street)

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TRANSPORTATION & INFRASTRUCTURE INCENTIVES

general electric | transportation

infrastructure improvements underwayNew water transportation infrastructure is being added to improve the system. Planned infrastructure improvements include:

A new ferry terminal dock at Lovejoy Wharf in Downtown to provide direct ferry access from the North Station transportation hub to the South Boston Waterfront at Fan Pier Cove. This project is planned for 2016.

The Massachusetts Department of Transportation plans to construct a new ferry terminal within Fort Point Channel, in proximity to South Station,to link this major multi-modal transit hub to the water transportation system.

The South Boston Waterfront and Innova-tion District, in particular, has robust wa-ter transportation infrastructure in place with further potential to expand service. Currently there are water transportation docks in place at Fan Pier, Fan Pier Cove, Pier 4, Liberty Wharf, and a new ferry terminal is designed for the World Trade Center at Commonwealth Pier.

federal highway administration ferry boat program discretionary grantThere is the potential for General Electric to partner and benefit from a grant from the Federal Highway Administration Ferry Boat Program Discretionary Grant to expand the vessel fleet by purchasing two inner harbor ferries to further link the Downtown, East Boston, Charlestown and South Boston Wa-terfront Districts, as well as Logan Interna-tional Airport. The grant amount is for $1.28 million with a 20% match, $320,000 for a to-tal anticipated vessel purchase price of $1.6 million. The City is seeking another public entity to administer the grant funds, issue a RFP, and manage vessel procurement.

signage

Sites included in this proposal will offer General Electric signage on properties.

hanger

A hanger will be available at Hanscom Air Force Base to accommodate six airplanes for General Electric to fly to and from Logan International Airport; there is a possibility for space to become available at Boston Logan Airport. Both Hanscom Air Force Base and Boston Logan Airport are operated by Mass-port.

helipad

Initial review confirms helipad accessibility for each site highlighted in this booklet.

about boston harbor water transportation & ferry serviceWater transportation is a key component of Bostons multi-modal transportation net-work, enhancing access to the citys wa-terfront districts and coastal communities. Currently, there are more than 25 water taxi stops in Boston Harbor and major ferry hubs including the Long Wharf and Rowes Wharf in the Downtown Waterfront District, Charlestown Navy Yard, Logan Internation-al Airport, and Fan Pier Cove in the South Boston Waterfront. Over 4,500 commuters utilize the water transportation daily, with an additional 30,000 utilizing the water taxi system throughout the year.

YOUR HEADQUARTERSSurrounding Bostons 400 year old downtown peninsula is one of the most extraordinary concentrations of innovation, business, recreation, and transportation in all of North America. Bostons downtown boasts an incredible proximity to Logan Airportnonstop flights to 53 international and 76 domestic destinations are never more than 16 minutes away.

general electric | location map

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existing building for renovation

helipad

Eligible

proximity to logan3.0 miles

05 minutes by car

23 minutes by transit

ownership

MassDOT

185 kneeland street | downtownThis location is within walking distance to four MBTA lines, including the South Station Intermodal Center with connections to Logan Airport via the Silver Line. It is also minutes from the Mass Turnpike (route 90) and the primary north-south artery through Boston, the Southeast Expressway (route 93), as well as the Ted Williams tunnel to Logan Airport. The site is 3 parcels totaling 5.8 acres, with an existing 104,000 square foot office building for renovation.

MASSDOT BUILDING

Possible new headquarters in a highly visible location.

helipad

To be determined


08 minutes by car


ownership

City of Boston

26 court street | downtownThe 11 story building is roughly 160,000 square feet and centrally located with proximity to the financial district and Massachusetts State House. One of the most historic buildings in Downtown Boston, 26 Court Street is believed to be the oldest plot of land continuously owned by the City of Boston. The building has served Boston as a jail, court house, and most recently was home to the headquarters of Boston Public Schools.

FORMER BPS HEADQUARTERS existing building for renovation

Possible office space available for high tech and IT infrastructure jobs and new location for innovation lab.

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proximity to ferry accessExisting water taxi dock at Liberty Wharf (0.36 mi.)

permitting phaseThis site has been approved by the BRA for construction

ownership

EDIC

6 tide street | south boston waterfront districtThis project is located in the South Boston Waterfront District, nestled between Bostons transportation gateways, abutting historic Boston Harbor, adjacent to Logan International Airport, and at the nexus of two major interstate highways. This proposed site operated by the Economic Development Industrial Corporation (EDIC) of Boston calls for the construction of a 355,000 square foot development in the Boston Marine Industrial Park.

6 TIDE STREET vacant landfor development

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proximity to ferry accessExisting water taxi dock at Liberty Wharf (0.35 mi.), Pier 4 water taxi (0.33 mi.), Fan Pier Cove ferry terminal (0.4 mi.)

permitting phaseThis site benefits from a streamlined permit-ting process managed by Massport

ownership

MassPort

summer street & d street | south boston waterfront districtThe Project Site is strategically located within the South Boston Waterfront District, occupying two of the four corners at the intersection of Summer Street and D Street. Summer Street is the major east-west street in the District, providing a direct connection to downtown Boston. D Street is the major north-south street, linking the waterfront to the traditional South Boston neighborhood. The Project Site consists of approximately 4.9 acres on two separate parcels owned by Massport.

D-2 & D-3 vacant landfor development

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Massport

congress street | south boston waterfront districtSimilar to A2, this 1.8 acre sites location in the South Boston Waterfront District delivers great access and amenities. It is also adjacent to the MBTA Silver line with the potential for on-site structured parking.

PARCEL H vacant landfor development




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Massport

congress street & world trade center avenue | south boston waterfront districtLocated in the heart of the innovation district, this is a 1.2 acre site with terrific transit access. Adjacent to the MBTA Silver line and a short walk to South Station directly accesses the airport and greater Boston in a matter of minutes. For commuters, there is available parking in the planned Air Rights Garage adjacent to A2 with a possible direct pedestrian connection.

A2 vacant landfor development

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Massport

massport haul road & world trade center avenue | south boston waterfront districtLocated in the South Boston Waterfront District, this site has the capacity for a 150,000 square foot office building with parking provided in the adjacent Massport Air Rights Garage. The site is also adjacent to the MBTA Silver line station.

WORLD TRADE CENTER AVE vacant landfor development

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BostonCommon

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ownership

Massachusetts Convention Center Authority

d street & e street | south boston waterfront districtBoth sites are located in close proximity to the Boston Convention & Exhibition Center (BCEC). The parcel on D Street is approximately 163,000 square feet and can accommodate a building up to 75 feet in height, about 6 stories, and a footprint of 122,000 square feet. It is under a mile to MBTA transit access, next to Element Hotel, and across the street from the BCEC and Lawn on D. The parcel on E Street can accommodate a 600,000 square foot building, of up to 10 stories, and a footprint of up to approximately 80,000 square feet. This site is also less than a mile to MBTA transit access, and is across from the new Aloft Hotel, one block from the BCEC and the Westin hotels.

D STREET & E STREET vacant landfor development

YOUR INNOVATION LABBoston is the worlds most sustainable source of exceptional talent. We are home to the best institutions and amazing businesses; the future of robotics, life sciences, and energy are developed here.

general electric | innovation lab

bostons innovation district south bostons waterfront district Bostons Innovation District spans 1,000

acres on the South Boston Waterfront.

Its the citys newest cluster of high tech research, development, and manufacturing firms.

Since 2010, the South Boston Waterfront has added over 100 new businesses.

Home to MassChallenge, the worlds largest startup accelerator.

Technology companies, including greentech and life sciences, significantly represent the areas growth.

growth in the high tech sector Bostons high tech sector has grown 9%

per year since 2010.

Boston is particularly strong in computer systems design and scientific research and development. In fact, Bostons share of employment in scientific research and development is two and a half times the national average.

your innovation lab We propose an exciting partnership to launch an Innovation Lab in Downtown Boston to showcase your technology, especially healthcare and digital hardware technology. The proposed Life Sciences Innovation Lab would be in partnership with General Electric, the City of Boston, MassChallenge, and the Massachusetts Life Sciences Center (MLSC). As part of this partnership, MassChallenge would operate the Innovation Lab and MLSC would support up to $5 million to build-out the facility.

life sciences corridor Boston collaborates with Somerville,

Cambridge, Quincy, and Braintree to support the Life Sciences Corridor.

The Life Sciences Corridor is home to over 450 companies within the Life Sciences Industry Cluster.

The Life Sciences Corridor is sustained by skilled labor force availability, access to leading universities, the existence of established innovative research and development districts, proximity to major research hospitals, and presence of venture capital resources.

medical research In Boston, the Longwood Medical Area

is a world famous medical epicenter with over 43,000 scientists, researchers, and staff including over 19,000 students.

In 2014, the Longwood Center opened, adding an additional 350,000 square feet of R&D space in Bostons strongest life sciences cluster.

2014 marked the 20th consecutive year that Boston received the most National Institutes of Health funding of any U.S. city. Forty-six Boston institutions received 3,521 NIH awards for more than $1.7 billion in funding.

DEPARTMENT NAME

Governors Office Steve Kadish, Chief of Staff

Mayors Office Dan Koh, Chief of Staff

Massachusetts Executive Office of Housing and Economic Development Jay Ash, Secretary

Massachusetts Executive Office of Housing and Economic Development

Mike Kennealy, Assistant Secretary for Business Growth

Mayor's Office of Economic Development, City of Boston John Barros, Chief

Mayor's Office of Economic Development, City of Boston

Lauren Jones, Deputy Director of Business Strategy

Massachusetts Department of Environmental Protection (MASSDEP) Martin Suuberg, Commissioner

Massachusetts Department of Transportation (MassDOT)

Kate Fichter, Assistant Secretary of Policy Coordination

Boston Assessing Department Ronald Rakow, Commissioner

Boston Civic Design Commission David A. Carlson, Executive Director

Boston Disabilities Commission Kristen McCosh, Commissioner

Boston Fire Department Joseph P. Finn, Commissioner

Boston Inspectional Services Department (ISD) William Christopher, Commissioner

Boston Public Health Commission (BPHC) Lisa Conley, Director of Policy Development

Boston Public Works Michael Dennehy, Commissioner

Boston Redevelopment Authority (BRA) Brian Golden, Director

Boston Transportation Department (BTD) Chris Osgood, Chief

Boston Water & Sewer Commission Charlie Jewell, Director of Planning

Mayor's Office of Environment, Energy & Open Space, City of Boston Austin Blackmon, Chief

JOINT STATE-CITY TASK FORCEThe Joint State-City General Electric Task Force provides General Electric with a single point of contact to support a seamless permitting, relocation, and transition to Boston. Through its enabling legislation, the Boston Redevelopment Authority (BRA) provides streamlined real estate development permitting. As such, the sites offered in this proposal have been coordinated through the BRA, as a single point of contact. Should additional approvals be required, a BRA ombudsman will coordinate with all relevant city, state and other parties.

general electric | task force

HOMEOWNERSHIP SUPPORT

bostons live near your work initiative The City of Bostons Boston Home Center (BHC) will work with GE to create a homebuying match loan program. The program will work with the existing BHC loan program to hold a Homebuying 101 (HB101) course at General Electric headquarters where graduates are eligible for between 3% and 5% for down payment and closing cost assistance from the BHC loan program. Loans are zero interest deferred loans that are forgivable and become a grant if the homeowner lives in Boston for 10 years.

general electric | homeowner support

A welcome presentation from Housing Chief Sheila Dillon and Deputy Director Rob Consalvo on Department of Neighborhood Development programming including an in-depth presentation on the homebuyer and homeownership programs and services offered by the BHC.

Hold a Homebuying 101 (HB101) course at General Electric headquarters for company employees, including a waiver for any and all charges for the course. (Course currently charges a fee for enrollment.)

Schedule BHC Meet the Lenders and Realtors event and three additional BHC specifically for the company at General Electric headquarters employees.

Dedicate a member of the BHC homebuying team as General Electrics Champion who will be responsible for working with and assisting any company employee with all aspects of homebuying and homeownership.

Conduct a BHC trolley tour of Bostons neighborhoods with BHC staff for company employees to introduce each Boston neighborhood to company employees as well as to showcase different housing stock and important neighborhood characteristics.

For home purchases outside of Boston, MassHousing will provide counseling for employees including briefing/training at their offices about the mortgage programs that MassHousing has available and collateral loan materials personalized for employees. MassHousing is one of the premier housing finance agencies in the country, with a network of more than 170 lenders originating mortgages as well as its own mortgage insurance business. MassHousing will select a small number of its top lending partners willing to designate specific loan officers to work with employees, and all loans will be serviced by dedicated staff, insuring customized service for loans made through the MassHousing network. MassHousing will also provide financing with as little as 3% down for all eligible home buying employees of the company and for all eligible loans. Rates will be made at our lowest possible cost of funds, with a 20% reduction in the cost of private mortgage insurance.

YOUR HOMEgeneral electrics concierge relocation services The City of Boston wants to ensure a seamless relocation and transition to Boston for General Electric and its employees. General Electrics Concierge Relocation Services offers a range of services and support.

The City of Bostons Boston Home Center would be able to support General Electric employees seeking homeownership or rentals in Boston through the following incentives:

general electric | your home

temporary general electric spaceBoston understands General Electrics relocation of its corporate headquarters is a major endeavor. The State-City Joint Task Force will work closely with General Electric to discuss property needs and confirm availability of temporary space for up to 50 executives very early in the process.

bostons business networkWe will help you make connections within the Boston business community.

homeownership

The Boston Home Center will offer a package of resources for General Electric employees (See Homeownership Incentives).

job listings We will provide referrals to head hunting services and job listings in and around Boston.

education and childcareWe will help you find day care services, public and private schools, and introductions to premier colleges and universities in the Boston area such as Harvard University, Boston College, Northeastern University, Emerson College, and Suffolk University.

moving referralsWe will provide referrals to moving companies, storage companies, and home services to get you settled in your new home.

introductory city tourWe will host an introductory city tour to provide you with an orientation to Boston, highlighting its history, cultural and athletic institutions, parks, shopping areas, and medical facilities.

transportation

Boston has many transportation options, and we will help you get around the city. We will offer walking guides to the third most walkable city in America and access to a T (subway and bus) pass with map/schedule.

boston attractionsOnce youre settled and enjoying your new home, enjoy a guide to Bostons sights, events, and attractions. Local happenings capturing our rich history, diverse neighborhoods, and legacy of arts, culture and education are frequently updated at www.CityofBoston.gov/Visitors.

Among features in Boston, CityPass allows you to visit the New England Aquarium, Museum of Science, Museum of Fine Arts, and either the Skywalk Observatory or the Harvard Museum of Natural History - on us! www.CityPass.com/Boston

on-site services for ge employeesWe will partner with Bostons City Hall To Go truck to visit General Electric every day for a week upon opening, and quarterly during General Electrics first year in Boston to offer a range of on-site services from the Commonwealth of Massachusetts and the City of Boston for employees. No standing in line, no hassles, no fuss, just service.

Services range from applying for a state license and automobile registration, and applying for a residential parking permit to registering to vote, pre-registering for school, and requesting a handicap parking space. Inspired by food trucks, Bostons bright and friendly mobile City Hall truck is about serving city residents where they live, work and play.

General Electric Proposal December 2015

Documents

Transcript of General Electric Proposal December 2015